SK Hynix Closes $28B ADR Bookbuild Wednesday Amid Multiple-Oversubscription

According to Reuters, SK Hynix will close its $28 billion American Depositary Receipt (ADR) bookbuild on Wednesday at 4 p.m. ET due to strong demand with subscriptions multiple times oversubscribed. Final pricing guidance will be announced after South Korea's market close on Thursday, with allocation results confirmed Thursday evening. The ADR is scheduled to begin trading on Nasdaq on July 10. The offering, covering 17.79 million shares, ranks as the second-largest global stock offering in history, behind only SpaceX's record $85.7 billion IPO last month.
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